Ch. 507                                     1993 LAWS OF MARYLAND

(6) THE PENALTIES PROVIDED UNDER PARAGRAPH (4)(I) OF THIS
SUBSECTION DO NOT APPLY IF THE NONPROFIT HEALTH SERVICE PLAN HAS
OBTAINED AN EXTENSION FROM THE COMMISSIONER FOR FILING THE REQUIRED
STATEMENT.

(B)     (1) THE COMMISSIONER MAY REQUIRE INTERIM STATEMENTS OF ANY
NONPROFIT HEALTH SERVICE PLAN DOING BUSINESS WITHIN THE STATE.

(2)      THE INTERIM STATEMENTS SHALL CONTAIN ANY INFORMATION
WHICH THE COMMISSIONER MAY DEEM NECESSARY AND PROPER AT ANY TIME
DURING THE PERIOD BETWEEN THE FILING OF ANNUAL STATEMENTS.

(C)     (1) (I) ON OR BEFORE JUNE 30 OF EACH YEAR, A NONPROFIT HEALTH
SERVICE PLAN SHALL FILE WITH THE COMMISSIONER AN AUDITED FINANCIAL
REPORT FOR EACH AFFILIATE AND SUBSIDIARY OWNED BY OR UNDER THE
CONTROL OF THE NONPROFIT HEALTH SERVICE PLAN DURING THE IMMEDIATELY
PRECEDING CALENDAR YEAR.

(II) SUBPARAGRAPH (I) OF THIS PARAGRAPH DOES NOT APPLY TO:

1. A HEALTH MAINTENANCE ORGANIZATION REQUIRED TO
FILE AN ANNUAL REPORT UNDER § 19-717 OF THE HEALTH - GENERAL ARTICLE; OR

2. ANY AUTHORIZED INSURER REQUIRED TO FILE AN
ANNUAL REPORT UNDER § 58 OF THIS ARTICLE.

(2)" THE REPORT SHALL:

(I)      CONTAIN THE INFORMATION REQUIRED BY THE
COMMISSIONER; AND

(II)     BE CERTIFIED TO BY AN INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANT AS TO THE FINANCIAL CONDITION, TRANSACTIONS, AND AFFAIRS OF
THE AFFILIATES AND SUBSIDIARIES FOR THE IMMEDIATELY PRECEDING
CALENDAR YEAR.

(3)      ANY NONPROFIT HEALTH SERVICE PLAN FAILING TO FILE THE
REPORT REQUIRED UNDER THIS SUBSECTION BY MARCH 10 SHALL FORFEIT:

(I)      $100 FOR EACH DAY UP TO AND INCLUDING JULY 10; AND

(II)     $150 FOR EACH DAY AFTER JULY 10 UNTIL THE STATEMENT IS
FILED WITH THE COMMISSIONER.

(4)   ' THE COMMISSIONER MAY EXTEND THE TIME FOR FILING FOR GOOD
CAUSE.

(5)      THE PENALTIES PROVIDED UNDER PARAGRAPH (3) OF THIS
SUBSECTION DO NOT APPLY IF THE NONPROFIT HEALTH SERVICE PLAN HAS
OBTAINED AN EXTENSION FROM THE COMMISSIONER FOR FILING THE REQUIRED
STATEMENT.

- 2590 -